Curiosity@Intelsense
Weekly dose of learning
First some good news. The Shree Lakshmi fund from our PMS features once more in the top 10 funds in India this year by monthly performance. This is the third time in the last twelve months that our funds have been in the top 10 monthly list.
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1.
Compounding your reputation has the best returns over time
If you were to ask Buffett, “What is your edge?”, he would probably say it’s his ability to do rational things during irrational times. I would argue his edge quickly evolved from rationality and intellect to one of reputation.
Buffett has been compounding his reputation for 70 years with investors, operators, financiers, world leaders, everyone. The result is people desire his opinion and approval. Business owners are willing to sell to him for less. Financiers are willing to give him a better deal to have him involved. When the markets are in free fall investors look to him to put in the floor and tell us it’s going to be okay. Reputation means influence.
Reputations take time to develop and can only be earned. They normally start from humble beginnings. Most of the people you admire today weren’t known by anyone the first 10 years of their career. They kept their heads down. They weren’t seen. They worked in unglamorous positions, but they started building a reputation that they could be relied upon.
2.
Do not overwork yourself to death
In Japan they have a word, karōshi, which translates to death from overwork. In Korean it’s gwarosa. Is that what you want to be? A workhorse that draws its load until it collapses and dies, still shod and in the harness? Is that what you were put on this planet for?
Do you want to be the artist who loses their joy for the process, who has strip-mined their soul in such a way that there is nothing left to draw upon? Burn out or fade away—that was the question in Kurt Cobain’s suicide note. How is that even a dilemma?
It’s human being, not human doing, for a reason.
Moderation. Being present. Knowing your limits. This is the key. This takes just as much discipline as pushing yourself hard.
The body that each of us has is a gift. Don’t work it to death. Don’t burn it out.
Pic of the Week
Thought of the Week
“Investors should remember that excitement and expenses are their enemies. And if they insist on trying to time their participation in equities, they should try to be fearful when others are greedy and greedy only when others are fearful.” ~ Warren Buffett
“Wealth isn’t primarily determined by investment performance, but by investor behaviour.” ~Nick Murray
Video of the Week
Intelsense Insights
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Earlier you mentioned work like donkey with Narayan Murthy formula. Now you're prescribing opposite formula. Change of heart? Old age? Wisdom? Or just randomly publishing article?